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EconomyEconomy - overview
Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Uganda has never conducted a national minerals survey. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. Since 1990 economic reforms ushered in an era of solid economic growth based on continued investment in infrastructure, improved incentives for production and exports, lower inflation, better domestic security, and the return of exiled Indian-Ugandan entrepreneurs. Uganda has received about $2 billion in multilateral and bilateral debt relief. In 2007 Uganda received $10 million for a Millennium Challenge Account Threshold Program. The global economic downturn has hurt Uganda's exports; however, Uganda''s GDP growth is still relatively strong due to past reforms and sound management of the downturn. Oil revenues and taxes will become a larger source of government funding as oil comes on line in the next few years. Rising food and fuel prices in 2011 led to protests. Instability in southern Sudan is a risk for the Ugandan economy in 2012 because Uganda''s main export partner is Sudan, and Uganda is a key destination for Sudanese refugees. Gdp (purchasing power parity) World Ranking: 95
$46.96 billion (2011 est.)
$44.02 billion (2010 est.) $41.58 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$16.81 billion (2011 est.)
Gdp - real growth rate World Ranking: 36
6.7% (2011 est.)
5.9% (2010 est.) 7.2% (2009 est.) Gdp - per capita (ppp) World Ranking: 203
$1,300 (2011 est.)
$1,300 (2010 est.) $1,300 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 22%
Industry 25.4% Services 52.6% (2011 est.) Labor force World Ranking: 38
16.02 million (2011 est.)
Labor force - by occupation
Agriculture 82%
Industry 5% Services 13% (1999 est.) Unemployment rate
NA%
Population below poverty line
24.5% (2009 est.)
Household income or consumption by percentage share
Lowest 10% 2.4%
Highest 10% 36.1% (2009 est.) Distribution of family income - gini index World Ranking: 47
44.3 (2009)
45.7 (2002) Investment (gross fixed) World Ranking: 52
23.9% of GDP (2011 est.)
Budget
Revenues $2.435 billion
Expenditures $3.422 billion (2011 est.) Taxes and other revenues World Ranking: 196
14.5% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 173
-5.9% of GDP (2011 est.)
Public debt World Ranking: 117
23.5% of GDP (2011 est.)
21.8% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 214
18.7% (2011 est.)
4% (2010 est.) Central bank discount rate World Ranking: 32
14% (31 December 2010 est.)
9.65% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 19
21.83% (31 December 2011 est.)
20.17% (31 December 2010 est.) Stock of narrow money World Ranking: 120
$2.553 billion (31 December 2011 est.) $2.041 billion (31 December 2010 est.) Stock of broad money World Ranking: 132
$4.162 billion (31 December 2011 est.) $4.199 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 129
$2.849 billion (31 December 2011 est.) $2.496 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 99
$7.727 billion (31 December 2011) $1.788 billion (31 December 2010) $3.745 billion (31 December 2010) Agriculture - products
Coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry Industries
Sugar, brewing, tobacco, cotton textiles; cement, steel production Industrial production growth rate World Ranking: 120
2% (2011 est.)
Electricity - production World Ranking: 132
2.176 billion kWh (2008 est.)
Electricity - consumption World Ranking: 136
1.958 billion kWh (2008 est.)
Electricity - exports
82.04 million kWh (2009)
Electricity - imports
NA kWh (2009 est.)
Oil - production World Ranking: 142
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 142
14,000 bbl/day (2010 est.)
Oil - exports World Ranking: 205
0 bbl/day (2009 est.)
Oil - imports World Ranking: 133
13,770 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 41
1 billion bbl (1 January 2010 est.) Natural gas - production World Ranking: 138
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 140
0 cu m (2009 est.)
Natural gas - exports World Ranking: 199
0 cu m (2009 est.)
Natural gas - imports World Ranking: 139
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 78
14.16 billion cu m (1 January 2011 est.) Current account balance World Ranking: 144
-$1.932 billion (2011 est.)
-$1.74 billion (2010 est.) Exports World Ranking: 131
$2.581 billion (2011 est.)
$2.164 billion (2010 est.) Exports - commodities
Coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold Exports - partners
Sudan 15%, Kenya 10%, Rwanda 8.3%, UAE 7.8%, Democratic Republic of the Congo 7.6%, Netherlands 6%, Germany 5.7% (2011) Imports World Ranking: 128
$5.093 billion (2011 est.)
$4.264 billion (2010 est.) Imports - commodities
Capital equipment, vehicles, petroleum, medical supplies; cereals Imports - partners
Kenya 15.3%, UAE 14.4%, India 9.5%, China 9.5%, South Africa 5.6%, Japan 4.5% (2011) Reserves of foreign exchange and gold World Ranking: 106
$2.782 billion (31 December 2011 est.) $2.838 billion (31 December 2010 est.) Note Excludes goldDebt - external World Ranking: 130
$3.528 billion (31 December 2011 est.) $2.994 billion (31 December 2010 est.) Stock of direct foreign investment - at home
$NA
Stock of direct foreign investment - abroad
$NA
Exchange rates
Ugandan shillings (UGX) per US dollar - 2,522.7 (2011 est.)2,177.6 (2010 est.) 2,030 (2009) 1,658.1 (2008) 1,685.8 (2007) Fiscal year
1 July - 30 June
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